Its always better to have multiple streams of income in case one of these streams dries up in the future. I would recommend that you implement a combination of the above.

One problem you have with a lot of these methods is that a third party is taking a portion of your earnings. For example Google will be taking a cut of whatever the advertiser has paid to generate a click to their website.

Text Link Ad companies (such as Inlinks) will take a large cut (often 50%) of the money that advertisers are paying to place a link on your website.

There is however a way to keep 100% of your advertising income.

Selling Your Own Ad Space

There is some great software in the form of a plugin that allows you to automate the sale of your WordPress blog advertising space.

OIOIPublisher takes all of the work out of selling your private ad space on your blog. Advertisers browsing your site can simply click on your ad space “advertise here” banners and they are taken to a screen that allows them to upload their banners and make payment by paypal. The advertisers even have the option of selecting reucurring payments so that they can keep their advert on the site without needing to renew payments every month. You can check these out on the Millionaire Blog on the right hand side of the screen if you scroll down and look for the “Advertise Here” banners.

The blog owner has the option of setting their own prices for their ad space using OIOIPublisher and also selecting various places on your blog where you can sell space. You even have the option of allowing your advertiser to pay you to make a guest post.

I have a great offer for all my readers today as Ive managed to negotiate a fantastic coupon code that will save you $17 off the price of OIOIPublisher. The coupon code will entitle the purchaser to buy OIOIPublisher for the low cost of $30.

You can easily make your $30 back within a couple of weeks once you have sold your first advert. The best part about this is that you will keep all your advertising income for ads sold via OIOIPublisher. Im recommending this product as Its actually in use on this blog and Ive been impressed with its ease of use and performance. You will find it on the right hand side if you scroll down. And I paid the full price – $47.

You had better move fast though as this coupon code is only valid until the 1st Feb 2009.

So grab your copy of OIOIPublisher here. And enter the following Coupon Code – Jan90-30 to get a full $17 off the price of this product – so only $30 (regular price is $47).

You should also remember that no matter how you monetize your blog that you will not generate an income unless you fill your site with good relevant content. Content is the key to increasing quality traffic and increasing your online income.

Id be interested to know how you monetize your blog and which method you have found to be the most successful.